Australian infrastructure bank Macquarie is set to complete the sale of its £1.5 billion 26% stake in Thames Water, according to a report in today’s Financial Times.

The report says that a buyer will be announced next month after the deal was delayed by the UK’s  decision to leave the European Union following the result of the referendum on Brexit.

Macquarie.

The infrastructure arm of the Australian banking group, which appointed Nomura and Baker & McKenzie to act respectively as its financial and legal advisors, received indicative first round bids from third parties in July last year.

Macquarie bought the UK’s largest water company ten years ago from Germany’s RWE for £8bn in 2006.